Have you ever negotiated your end -of -lease bill? If so, did you take the first discount that was offered to you or pushed for more? I’ve negotiated these bills hundreds of times for customers on average knocking up to 50% off. Two years ago after negotiating an end -of -lease bill for a customer, the bank reported back to their credit report “Account Settled” instead of “Paid in Full”. This was the 1st time I’ve ever heard of this happening. When you settle an account, it means that the creditor is agreeing to accept a payment amount that is less than originally owed. A status of “settled” is considered potentially negative, though it is better than if the debt was not paid at all. After many phone calls and letters the customer was told had they accepted the 25% discount offered instead of pushing for 30% it wouldn’t have been reported in that way. The difference was only a few hundred dollars and definitely not worth a damaging mark on a credit report.
TIP: Always ask how a bill will be reported on your credit report if less than the amount owed!
Don’t be fooled! Different emblems but still the same car with just a few cosmetic changes, the GLE Class took the place of the M Class. When entering a showroom the dealers are treating it like a brand new vehicle. Many of them charging MSRP or offering a minimal discount, don’t fall for this. As always I recommend utilizing the Do-It-Yourself Report® before finalizing your deal. Doing so will without a doubt help to save a lot of money.